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A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets At December 31 2021 2020 Assets Cash $ 15,700 $ 62,700 27,000 Accounts receivable, net 33,300 Inventory 56,600 62,500 Prepaid expenses 3,500 2,900 Total current assets 149,800 114,400 Furniture 70,500 82,200 Accumulated depreciation-Furniture (10,900) (6,200) Total assets $ 209,400 $ 190,400 Liabilities and Equity Accounts payable $ 9,900 $ 14,000 Wages payable 5,900 3,300 Income taxes payable. 1,000 1,800 Total current liabilities 16,800 19,100 20,700 47,800 Notes payable (long-term) Total liabilities 37,500 66,900 Equity 123,000 Common stock, $5 par value Retained earnings 152,200 19,700 500 Total liabilities and equity $209,400 $ 190,400 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Sales $ 326,000 Cost of goods sold 209,800 Gross profit 116, 200 Operating expenses (excluding depreciation) 59,500 Depreciation expense 25,100 Income before taxes 31,600 11,500 Income taxes expense Net income $ 20,100 QS 16-26B (Algo) Direct: Computing cash received from customers LO P5 1. How much cash is received from sales to customers for year 2021? Assume all the sales were made on credit basis. 2. What is the net increase or decrease in the Cash account for year 2021? Complete this question by entering your answers in the tabs below. Required 1 Required 2 How much cash is received from sales to customers for year 2021? Assume all the sales were made on credit basis. Accounts Receivable Beginning balance Ending Balance < Required 1 Required 2 >
1. How much cash is received from sales to customers for year 2021? Assume all the sales were made on credit basis. 2. What is the net increase or decrease in the Cash account for year 2021? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the net increase or decrease in the Cash account for year 2021? < Required 1 Required 2 >